Carey Olsen
  March 22, 2023 - Bermuda, Bermuda

A guide to funds and private equity in Jersey
  by Carey Olsen

Jersey offers a range of fund types and structures to suit the needs of sophisticated sponsors and investors including Jersey Private Funds, Notification Only Funds (also known as Eligible Investor Funds) and Collective Investment Funds (CIFs), such as Jersey Expert Funds and Jersey Listed Funds.

Our team of leading Jersey funds lawyers have substantial experience advising on the full spectrum of fund strategies and asset classes including private equity, real estate, infrastructure funds, sustainable investment funds, hedge funds, secondaries funds, and a growing digital assets practice.

Please continue reading for our full guide to funds and private equity in Jersey for more information on fund structures available in the jurisdiction and associated regulation. 
 

Contents

Please click on the links below to jump to the relevant section:

Carey Olsen

Carey Olsen is a leading offshore law firm advising on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey and Jersey from a network of nine international offices.

We provide legal services in relation to all aspects of corporate and finance, trusts and private wealth, investment funds, insolvency, restructuring and dispute resolution.

Our clients include global financial institutions, investment funds, private equity and real estate houses, multinational corporations, public organisations, sovereign wealth funds, high net worth individuals, family offices, directors, trustees and private clients.

We work with leading onshore legal advisers on international transactions and cases involving our jurisdictions. 

Our investment funds and private equity team

Clients value our longstanding experience in investment funds and our active role in the market. We advise on all fund structures, including open and closed-ended, limited partnerships, unit trusts and companies in the British Virgin Islands, the Cayman Islands, Guernsey and Jersey.

Recognised as the leading legal adviser to funds across the Channel Islands (Monterey), and with strong Caribbean and Asia practices, we represent more companies and funds listed on the London Stock Exchange than any other offshore law firm (Corporate Advisers Rankings Guide) and regularly advise on listings on the NYSE and HKEx, Euronext, CSX and TISE (formerly the CISE). 

We advise credit and debt funds, clean tech funds, real estate funds, retail and listed funds, private equity funds, venture capital funds, hedge funds and infrastructure funds.

Among our clients are fund managers, investment and private banks, institutional investors, boutique investment firms, insurance groups, pension funds, private equity houses and trust companies. We also have longstanding relationships with onshore legal advisers who instruct us on a regular basis. Our lawyers understand the requirements and priorities of each interest group and we tailor our services accordingly. We find innovative solutions and are particularly adept in challenging economic times.

The strength of our relationships with regulators in our jurisdictions means our clients benefit from our in-depth knowledge of the latest developments in regulation and compliance standards.

Our services:

Our approach

Our clients benefit from direct contact with the partner who is leading on their work. Our teams are structured according to the scale and expertise needed for each instruction and we ensure cost efficiencies through the delegation of work to lawyers at the appropriate level. 

We make a point of getting to know you, your business and your circumstances; always ensuring our advice is aligned to your ambitions and goals. Our role goes beyond delivering legal services and we aim to contribute to your success and to add value wherever we can. This can take a number of forms including training, knowledge sharing, legal secondments, regulatory and legislative updates and client briefings. 

We maintain highly-competitive and transparent fee rates that are visible from the outset.

Jersey: an international finance centre

Jersey is one of the world’s major international finance centres. Its successful combination of stability and reliability combined with tax neutrality has kept Jersey at the forefront of global finance for almost half a century. During this time Jersey has gained a strong reputation as a prime location in which to establish investment funds.

The industry has developed within the Island’s stable political and fiscal infrastructure. Government determination to encourage high quality business to the Island, and the support offered by the sophisticated and comprehensive infrastructure of laws and regulations, combine to promote investor confidence.

The wealth of experience and expertise offered by the Island’s highly skilled financial service providers gives an unparalleled welcome to businesses and investors alike and Jersey enjoys ease of access to the major UK investor market. Although a number of Jersey’s service providers have particular experience with private equity, real estate and funds of funds, Jersey has a growing reputation for more emerging asset classes. 

With a business day that begins before Tokyo closes and continues well into New York trading time and a close proximity to Europe whilst retaining independence from the European Union, Jersey offers both location and time zone benefits. Jersey offers seasoned and proven service providers across a variety of disciplines so substance/management of entities can be demonstrated “on the ground” (e.g. administration, accounting, banking and custody providers).

Summary

Jersey is a leading funds domicile:

Jersey funds regulation in brief

Jersey regulatory classifications provide a “safe harbour” with 3 day approval from the Jersey Financial Services Commission (“JFSC”) for the majority of non-retail funds.

Alternative Investment Fund Managers Directive

All Jersey funds (other than Notification Only Funds) are eligible to be marketed into the European Union and European Economic Area (“EU/EEA”) in accordance with the Alternative Investment Fund Managers Directive (“AIFMD”) through national private placement regimes and (once available) through the passporting regime. Jersey funds with a Jersey manager which are not actively marketed into the EU/EEA fall outside the scope of AIFMD. See “Alternative Investment Fund Managers Directive”.

Fund categories

Jersey funds are divided into the following main categories:

Jersey Private Fund regime

Fast and flexible, with minimal requirements for funds with fewer investors:

Without EU marketing 

EU marketing (sub-threshold Jersey AIFM)

EU marketing (Jersey AIFM is NOT sub-threshold)

Regulated public funds 

Suitable for funds with more than 50 investors or where a regulated product is needed:

Expert Funds

“Expert Investors” only (any one of 9 categories, one of which is an investor of $100,000 or more):

Listed Funds

Closed-ended funds (no absolute investor right to redeem):

Eligible Investor Funds

“Eligible Investors” only (any one of 11 categories, one of which is an investor of $1,000,000 or more):

Notification Only Funds

No regulation means less cost. Cannot be marketed in EU countries (but suitable for all other investors):

Investment vehicles which are not funds

Vehicles which hold a single asset or which carry on a business (such as property development) generally fall outside Jersey’s funds regulations. An investment vehicle will not be regulated as a fund in Jersey unless it is a scheme or arrangement for the investment of capital which (a) has as its object or one of its objects the collective investment of capital; and (b) operates on the principle of risk spreading, or units are to be bought back or redeemed continuously or in blocks at short intervals upon the request of the holder and out of the assets of the fund, or units will be issued continuously or in blocks at short intervals. 

Fund vehicles

Jersey funds can generally be established as:

Special purpose entities as service providers

A “special purpose” Jersey vehicle (“SPV”) can be established to act as manager, investment manager/adviser, general partner or trustee to one or more Jersey or non-Jersey funds.

These SPVs generally do not need to be regulated where they act for Jersey Private Funds or as a general partner or trustee of a Notification Only Fund. It is not usually possible to establish an SPV investment manager/adviser in Jersey for a Notification Only Fund.

Jersey “special purpose” service providers

  GP or trustee  Investment adviser or manager
Jersey Private Fund Not regulated  Not regulated
Regulated Public Fund   10 day “fast track” regulation 10-day “fast track” regulation
Notification Only Fund Not regulated N/A

Where appointed in relation to a regulated public fund (i.e. a CIF - see the Appendix for more information) an SPV service provider must be licensed by the JFSC. An expedited approval process exists allowing licensing in around two weeks with the support of a local administrator. 

See “Fund Service Providers” below.

Jersey Private Funds

A Jersey Private Fund must have 50 or fewer investors at all times. These funds are largely unregulated and the JFSC does not review the fund's constituent documents.

Key features

Due to requirements imposed on Jersey as conditions to its EU/EEA market access, additional requirements apply if the fund is actively “marketed” into the EU/EEA (as defined in the AIFMD): 

Not actively marketed into the EU/EEA 

Where the fund will not be marketed into the EU/EEA:

Marketed into the EU/EEA the AIFM is sub-threshold 

Jersey Private Funds which are to be actively “marketed” into the EU/EEA in accordance with the AIFMD and which have appointed a sub-threshold AIFM:

Marketed into the EU/EEA (AIFM is not sub-threshold)

Jersey Private Funds which are to be actively “marketed” into the EU/EEA in accordance with the AIFMD through national private placement regimes (or when available, through passporting):

Expert Funds

Expert Funds are attractive for non-retail schemes, whether hedge funds, private equity funds or other schemes aimed at “Expert Investors”. Expert Funds can be established quickly and cost effectively and must comply with the Jersey Expert Fund Guide (the “EF Guide”).

Approval process

The JFSC does not need to review the fund structure, documentation or the promoter. Instead the fund administrator certifies to the JFSC that the fund complies with the EF Guide and once the certification and the fund’s offer document are filed, the JFSC aims for a 3 day turnaround on the application for approval. The EF Guide provides fund promoters with certainty, efficiency and cost effectiveness in the establishment of a new fund. 

What is an Expert Fund?

A small number of additional requirements are imposed on Expert Funds:

Flexibility

There are no investment or borrowing restrictions imposed on the fund, nor is there any limitation on the number of investors such a fund may have.

The EF Guide aims to provide a “safe harbour” available to the majority of non-retail funds. On occasion, where derogations from the EF Guide are required, these are considered on an expedited basis.

Ongoing requirements

Ongoing requirements are limited. Future changes to the fund generally do not require regulatory approval unless they are contrary to the EF Guide or there is a change to the fund’s directors or service providers.

AIFMD

Expert Funds are eligible to be marketed into the EU/EEA in accordance with the AIFMD through national private placement regimes (and, when available, third country passporting).

Listed Funds

Listed Funds must comply with the Jersey Listed Fund Guide (the “LF Guide”). The LF Guide does not place any restrictions or qualification criteria on who can invest in a Listed Fund and provides certainty to those wishing to establish a listed fund in a quick and cost-effective manner. There is no minimum investment requirement.

Approval process

Listed Funds are established on certification by the fund administrator that the fund complies with the criteria set out in the LF Guide. The JFSC issues the relevant certificate on receipt of the certification and the fund’s offer document. As a result, a Listed Fund can be established in Jersey within 3 days. 

What is a Listed Fund?

A Listed Fund is a fund meeting the following criteria:

The JFSC understands that some investment managers/advisers may not be regulated because the type of activity they undertake is not regulated in their home jurisdiction: real property investment management being one example. In such cases, provided the investment manager is (i) the subsidiary of an entity that is regulated in relation to managing or advising on investment funds in its home jurisdiction, (ii) an entity or the subsidiary of an entity with a market capitalization of above US $500m, or (iii) a manager with a trading record of at least 5 years or whose principal persons can demonstrate relevant experience or qualifications, it will remain eligible for the fast-track authorisation process. If an investment manager/adviser does not meet these requirements, it may approach the JFSC on a case by case basis. Of course, if permission is granted then, absent any material change, the investment manager/adviser will not need specific approval to establish further Listed Funds. An investment manager/adviser is not required for certain self-managed funds, such as direct real estate or feeder funds.

A small number of key structural requirements are imposed on Listed Funds:

Flexibility

There are no investment or borrowing restrictions imposed on Listed Funds. There is no limit on the number or type of investors in such funds.

The LF Guide aims to provide a “safe harbour” available to the majority of funds which are listed. On occasion, where derogations from the LF Guide are required, these are considered on an expedited basis.

The LF Guide only applies directly to funds structured as companies, but applications for limited partnerships or unit trusts can be made on a case-by-case basis.

Listed Funds are now usually only used if there is a specific desire for a closed-ended listed fund to be regulated or for it to be actively “marketed” into an EU/EEA country in accordance with the AIFMD.

Ongoing requirements

Ongoing requirements are limited. Future changes to the fund generally do not require regulatory approval unless they are contrary to the LF Guide or there is a change to the fund’s directors or service providers.

AIFMD

Listed Funds are eligible to be marketed into the EU / EEA in accordance with the AIFMD through national private placement regimes (and, when available, third country passporting).

Regulated Eligible Investor Funds

Flexibility

Regulated Eligible Investor Funds are similar to Expert Funds in structure, authorisation requirements and ongoing regulation, with the following key differences:

Like Expert Funds, these Funds are attractive for non-retail schemes (including hedge funds, private equity funds and other schemes aimed at “Eligible Investors”) and can be established quickly and cost effectively. 

What is an Eligible Investor?

An investor must qualify in any one of 11 categories of “Eligible Investor”, which include those investors: 

The regime expressly recognises that a discretionary investment manager may make investments on behalf of investors who do not qualify as “Eligible Investors”, provided that it is satisfied that the investment is suitable for the underlying investors and they are able to bear the economic consequences of the investment.

AIFMD

Regulated Eligible Investor Funds are eligible to be marketed into the EU/EEA in accordance with the AIFMD through national private placement regimes (and, when available, third country passporting).

Retail Funds and other Regulated Public Funds (CIFs)

This category encompasses open-ended funds which are to be offered to retail investors and other CIFs which do not qualify as an Expert Fund, Listed Fund or Regulated Eligible Investor Fund. The first stage of the approval process is the approval of the promoter. This approval can be sought simultaneously with the submission of documents for review by the JFSC. Once such approval has been obtained, any JFSC comments on the documents have been resolved and the JFSC has approved the identity of the fund’s service providers, the JFSC will issue the necessary consents. The extent of the JFSC’s review and of the regulatory requirements it imposes will depend on the nature of the fund and, in particular, on any minimum level of investment or other restrictions on who can invest and whether the fund is open or closed-ended.

Under the JFSC’s published policy, in assessing a proposed promoter or promoting group, the JFSC will have regard to its: track record and relevant experience, reputation, financial resources, and spread of ultimate ownership. Their assessment will depend on the type of investor to which the proposed fund is targeted: the higher the minimum investment and/ or the more that the fund is targeted towards professional or institutional investors who have knowledge of the industry and have the experience and resources to look after themselves, the more the JFSC is inclined to relax their requirements.

Recognised Funds

This category of funds are intended to be freely marketed to retail investors in the United Kingdom or elsewhere and which are generally more heavily regulated than other types of Jersey funds. Recognised Funds are, in practice, rarely established and fall outside the scope of this guide.

Notification Only Funds

Notification Only Funds (also known as ‘Eligible Investor Funds’) may be open/closed-ended and they are restricted to sophisticated investors (including those investing a minimum amount equivalent to US $1 million). 

There is no audit requirement (unless the fund is a company), no need for Jersey service-providers or Jersey directors and no investment or borrowing restrictions imposed on a Notification Only Fund. Nor is there any limitation on the number of investors such a fund may have.

The key benefits of this regime for fund promoters are that it provides unparalleled flexibility coupled with the certainty of being able to establish the fund at any time simply by filing the required notice and without the need to obtain JFSC approval. 

Notification Only Funds can be established as a Jersey company (including as a PCC or ICC), as a limited partnership with at least one general partner which is a Jersey company or as a unit trust with at least one trustee or manager which is a Jersey company.

A Notification Only Fund:

The 11 categories of “Eligible Investor” are the same as for the Regulated Eligible Investor Fund. Investors must satisfy at least one of those categories.

The regime also expressly recognises that a discretionary investment manager may make investments on behalf of investors who do not qualify as “Eligible Investors”, provided that it is satisfied that the investment is suitable for the underlying investors and they are able to bear the economic consequences of the investment.

Notification Only Funds: the fund vehicle

Once the fund vehicle is established in the usual way, no further regulatory approvals of any kind will be required if the fund meets the requirements for qualifying as a Notification Only Fund. A notice must be filed with the JFSC confirming that the relevant eligibility requirements are met. Existing funds established on or after 19 February 2008 can convert to become Notification Only Funds.

The usual application procedure for incorporating a company or registering a limited partnership will apply, each of which can often be completed on the same working day. Using a unit trust avoids even these requirements. A Notification Only Fund has no obligation to have any Jersey resident directors or any Jersey based administrator, custodian or other service providers.

AIFMD

Notification Only Funds are not eligible to be marketed into the EU/EEA pursuant to the AIFMD. Accordingly, these Funds are most commonly used for raising capital outside the EU/EEA.

Alternative Investment Fund Managers Directive (“AIFMD”)

Jersey is outside the European Union and regarded as a “third country” for AIFMD purposes. Jersey has implemented an AIFMD regime only to the extent necessary to allow Jersey funds and Jersey managers to access investors in EU/EEA countries. 

The AIFMD regulation in Jersey overlays the existing regime to provide maximum flexibility. For Jersey funds (and other non-EU funds) with a Jersey Manager:

NPPR have proved effective in many EU/EEA countries and Jersey funds continue to be established and marketed in those countries, thereby avoiding the more onerous and costly AIFMD requirements. It is simple and cost effective to establish a “special purpose” Jersey manager with sufficient activity and substance in Jersey for AIFMD purposes. Where required, investment advice can still be received from an onshore advisor.

Jersey has extensive experience with establishing funds and “special purpose” managers for private equity, real estate, and funds of hedge funds, with a growing reputation for more emerging asset classes (e.g. mezzanine and other debt funds and infrastructure funds).

Fund vehicles

A Jersey fund can be established as:

Unit trusts

A unit trust is not a separate legal entity but is constituted by an agreement in writing, commonly known as a “trust instrument”, between a manager and a trustee (or by a trustee which also acts as manager). The trust concept has been recognised in Jersey for over one hundred years and trusts generally are now governed by the provisions of the Trusts (Jersey) Law, 1984. The assets of a unit trust are held by its trustee and are managed by the manager, who may appoint one or more investment managers/advisers to assist it. Contracts in relation to the management and administration of the trust fund will be entered into by the manager, whereas the trustee will enter into contracts in relation to the assets themselves, such as bank deposits, borrowings and security agreements. There is no limit to the number of investors. 

Limited partnerships

Limited partnerships (“LPs”) are now the favoured vehicles for closed-ended private equity funds and can be established in three ways:

A JLP/SLP/ILP is usually created by a written partnership agreement which is signed after the LP has been issued with a certificate of registration. A JLP/SLP/ILP consists of one or more general partners who are jointly and severally liable for all the debts of the partnership and one or more limited partners, who are not liable for any debts of the partnership beyond the amounts they contribute or agree to contribute. Among the features which make these Jersey limited partnerships attractive to fund promoters as fund vehicles, GP vehicles and carried interest vehicles are the following:

More information on Jersey limited partnerships is available in our briefing on Jersey limited partnerships.

Companies

Companies are incorporated under the provisions of the Companies (Jersey) Law 1991 (the “Companies Law”). Fund companies which are established as open-ended so that investors have the right to realise their investment in the company will normally issue redeemable preference shares to facilitate this, as par or no par value shares.

All companies formed under Jersey law have separate legal personality and are capable of suing and being sued in their own names. Management and control is vested in a board of directors although, particularly in the case of open-ended companies, it is often the case that investment management will be delegated to a management company. 

Protected Cell Companies and Incorporated Cell Companies

Cell company structures (which are popular for umbrella fund structures) are also established under the Companies Law. The cells all share the same registered office and company secretary, but can have different boards of directors, different capital structures and different articles of association. In Jersey, two kinds of cell company structure are available:

PCCs and ICCs can offer significant advantages and recently introduced changes further increase their flexibility, while maintaining the “bankruptcy remoteness” of each cell. 

More information on PCC and ICC structures is available in our briefing on Jersey Cell Companies.

The International Stock Exchange

The International Stock Exchange (“TISE”) (formerly known as The Channel Islands Securities Exchange) began its operations in December 2013 replacing the Channel Islands Stock Exchange and provides trading and listing of investment funds, debt instruments and shares in companies. TISE is designed to bring the expertise available in the Channel Islands to the growing number of international businesses requiring first class offshore financial services within the European time-zone.

The TISE provides a listing facility and screen-based trading. The TISE is approved as an Affiliate Member of the International Organisation of Securities Commissions (“IOSCO”). The TISE is officially recognised by the Australian Stock Exchange. The UK Inland Revenue (now “HM Revenue & Customs”) designated the Exchange as a Recognised Stock Exchange under Section 841 of the Income and Corporation Taxes Act 1988 (“ICTA”). Both Jersey and Guernsey are also “Designated Territories” under section 270 of The Financial Services and Markets Act 2000.

Carey Olsen Corporate Finance Limited, a member of the Carey Olsen Group, is a category 1, 2 and 3 Listing Member of the TISE and can act as a fund’s sponsor for listing purposes.

Jersey funds have equivalence on Euronext and Carey Olsen has acted on Euronext listings.

Taxation

The paragraphs below summarise the current tax position in Jersey.

General

Profits of a capital nature are not liable to Jersey income tax (unless arising from the development of land or buildings in Jersey). Accordingly, gains made on the disposal of assets held by a fund by way of investment will not be liable to Jersey income tax. There are no capital taxes in Jersey.

A voluntary exemption from taxation in Jersey is available for fund vehicles, should this ever be considered necessary.

Companies

Jersey fund companies which are resident for tax purposes in Jersey will be subject to income tax in Jersey at a rate of zero per cent. Dividends on shares and redemption proceeds may be paid by the fund company without withholding or deduction for or on account of Jersey income tax and holders of shares (other than residents of Jersey) will not be subject to any tax in Jersey in respect of the holding, sale or other disposition of such shares. 

Unit trusts

Funds established as unit trusts are exempt from tax on foreign income and bank interest (either automatically or, where there are Jersey resident individual unitholders, by application).

Unitholders who are not resident for income tax purposes in Jersey are not subject to taxation in Jersey in respect of any income or gains arising in respect of units held by them (other than any Jersey source income excluding bank deposit interest).

Unitholders who are resident for income tax purposes in Jersey will be subject to income tax in Jersey on any income arising from units held by them or on their behalf and income tax is required to be deducted by the trustee(s) on payment of any such distributions.

Limited partnerships

A Jersey limited partnership is not subject to assessment to taxation in Jersey in its own name. The partners are assessed in their own names as follows:

Other taxes

In Jersey, no stamp duty is levied on the creation, transfer, redemption or cancellation of shares, units or limited partnership interests. Stamp duties may be payable in Jersey where such securities form part of the Jersey estate of a deceased individual on a sliding scale at a rate of up to 0.75%. Jersey does not otherwise levy taxes upon capital, inheritances, capital gains or gifts nor are there otherwise estate duties. 

Fund service providers

Subject to the requirements applicable to the fund’s regulatory category, the service providers to a Jersey fund can be (i) an established Jersey service provider and/or (ii) a “special purpose” Jersey vehicle which is established to act as manager, investment manager/adviser, general partner or trustee to one or more Jersey or non-Jersey funds and/or (iii) any other (Jersey or non-Jersey) person or entity. 

AIFMD

Jersey entities which act as the manager of a fund (the “AIFM” as defined in the AIFMD) are subject to regulation by the JFSC.

Jersey depositories are subject to regulation by the JFSC. This service is provided by many established local service providers (and often by the fund’s existing administrator, trustee or custodian).

CIFs: special purpose and other service providers

Jersey service providers to CIFs (including Expert Funds, Listed Funds and Regulated Eligible Investor Funds) must be licensed by the JFSC to conduct “fund services business” under the Financial Services (Jersey) Law 1998 (the “Financial Services Law”): this includes administrators, custodians, distributors, fund managers, investment advisers/managers, general partners and trustees. Established Jersey service providers will already hold these licences. See “Establishing a Special Purpose Service Provider” further in this section.

Notification Only Funds

An exemption from the licensing requirement exists for special purpose companies established in Jersey to act as general partners and trustees of Notification Only Funds, thus ensuring that these structures can remain entirely unregulated by the JFSC (while still being subject to Jersey’s anti-money laundering regulations). It is usually not possible to establish an SPV investment manager/adviser in Jersey for a Notification Only Fund.

Jersey Private Funds

Subject to any AIFMD related requirements (see “AIFMD” in this section, above), special purpose companies established in Jersey are usually exempt from regulation using an applicable exemption, for example:

Please note that a regulated ‘designated service provider’ will also be needed.

Establishing a special purpose service provider

Where a special purpose Jersey entity needs to be regulated as described above (for example, where acting for a CIF or acting as an AIFM which is not “sub-threshold”), a simplified licensing regime applies:

Appendix

What is a CIF?

Only funds which fall within the definition of a “CIF” are required to be regulated by the JFSC under the Collective Investment Funds (Jersey) Law 1988 (the “CIF Law”). These funds may offer their units to an unlimited number of potential investors. Fund structures which are not CIFs must be approved by the JFSC under COBO and (subject to compliance with any approval conditions and to any AIFMD-related requirements) are not regulated by the JFSC on an ongoing basis.

A fund will be a CIF if it has as an object the collective investment of capital acquired by means of an “offer to the public” of units for subscription, sale or exchange, being any such offer: 

A fund which meets the relevant criteria requires a certificate under the CIF Law if: 

A Notification Only Fund is a fund which meets the requirements of the Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008, but which would be a CIF if it did not meet those requirements. 

Personal questionnaires

JFSC approval is required for any individuals who are directors of a CIF fund company, general partner or trustee (or who are directors or beneficial owners of any regulated “special purpose” Jersey vehicle such as an investment manager/adviser). As international regulatory checks can take some time to complete, personal questionnaire forms should be completed and submitted as early as possible for any individuals who have not already been approved by the JFSC. This requirement does not apply to Notification Only Funds and Jersey Private Funds.

An overview of Jersey funds[[{"type":"media","view_mode":"media_original","fid":"11988","attributes":{"alt":"","class":"media-image","height":"2008","typeof":"foaf:Image","width":"2906"}}]]

For further assistance or professional advice please, contact one of the Jersey investment fund partners listed on this page or a member of our Jersey investment funds team. 




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